Egdon Resources plc’s sale to Petrichor Partners LP has progressed following satisfaction of the oil and gas regulator’s condition.
TIMETABLE
The purchaser has confirmed receipt of the North Sea Transition Authority’s ‘comfort letter’ in relation to the acquisition, said Egdon today.
Following the satisfaction or waiver of other conditions, the sanction hearing is expected to take place on 12 September 2023 and the record time at 6pm on the following business day.
The last day of dealings in and registration of transfers of Egdon shares is expected to be 13 September.
Subject to the court approval and the court order being delivered to the Registrar of Companies, Egdon anticipates that the sale will become effective on 14 September 2023.
The company intends to cancel admission to trading of its shares on AIM from 7am on 15 September 2023, before which dealings will be suspended from 7.30 am on 14 September 2023.
The long stop date for the sale is 31 December 2023.